What Halyk Bank does

Halyk Bank (JSC Halyk Bank, majority-owned by ALMEX Holding Group, GDR: FRA:H4L1) is the largest banking group in Kazakhstan by assets, with KZT 20,908.5 billion (~$45 billion) in total assets as of year-end 2025 (up 12.7%) and customer deposits of KZT 13.9 trillion as of March 2026. The bank serves approximately 11 million retail, SME, and corporate customers through a horizontally segmented offering spanning consumer loans, mortgages (including the state-backed 7-20-25 program), auto loans, cards (Visa, Mastercard, UnionPay), deposits, payments, insurance, installment plans, investment products, and merchant acquiring. It operates across Kazakhstan (primary market), Georgia, and Uzbekistan (via subsidiary Tenge Bank).

The technology stack centers on the Halyk SuperApp (Homebank) for retail and Onlinebank for business clients, supported by an ISO 20022-compliant payments platform, QR payment infrastructure, voice biometrics authentication, the Halyk ID digital identity system, and an extensive POS terminal network with fiscal cash register (re:Kassa) integration. The ecosystem extends through Halyk Market (B2C marketplace), OnlineDuken (B2B procurement for convenience stores and pharmacies), Halyk Restaurants (cafe/restaurant management), the Mercury X China-import platform, and integrations with 1C:Enterprise accounting and Russian Federation company-verification services. ePay online acquiring APIs/SDKs enable merchant payment acceptance with rates starting at 0.9% for Halyk QR, 2.5% for Halyk cards, and 3% for other-bank cards.

The business model is a diversified commercial bank generating revenue from net interest income (consumer, mortgage, auto, and SME lending), fee and commission income (cards, domestic/international transfers via Western Union, MoneyGram, KoronaPay), merchant acquiring transaction fees, digital services (marketplace commissions, installment plans), and B2B platform fees (OnlineDuken, currency exchange). Customer segments include mass retail (primary), SMEs (primary), premium/VIP (secondary), and large corporate and government clients (e.g., Alatau City Authority, Kcell, Ekibastuz GRES-2). Distribution is omnichannel, combining an unmatched branch/ATM/POS physical network with self-serve digital channels, and the bank is pursuing geographic and vertical expansion through cross-border payment integrations (HUMO Uzbekistan), smart-city partnerships (Alatau City), and selective M&A in Central Asian fintech.

Name

Halyk Bank

Legal name

JSC Halyk Bank

Website

https://halykbank.kz

Company type

Private

Founded year

1923

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Halyk Bank is Kazakhstan's largest banking group by assets (KZT 20.9 trillion / ~$45B), serving 11 million retail, SME, and corporate customers through an integrated digital and physical ecosystem spanning Kazakhstan, Georgia, and Uzbekistan.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

National Commercial Banks (6021), State Commercial Banks (6022)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Corporate Banking (FSABAGAC), Islamic Transaction Banking (Cash Management & Treasury Services) (FSABAGAF)

Keywords

• Retail banking
• Corporate banking
• Merchant acquiring
• Money transfers
• Digital lending

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Interest income from lending activities including consumer loans, mortgages, auto loans, and business lending, offset by interest paid on deposits
2. Fee and Commission Income: Fees from card operations, money transfers (domestic and international), payment processing, and account maintenance
3. Merchant Acquiring: Transaction fees from POS terminal network and internet acquiring services for merchants
4. Digital Services: Revenue from Halyk Market place, installment plans, and digital financial services
5. B2B Platform Services: Fees from OnlineDuken B2B platform, currency exchange, and business banking services

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Halyk Bank is Kazakhstan's largest banking group, providing a comprehensive suite of retail, SME, and corporate banking services. Core offerings include consumer and business lending (unsecured loans, mortgages, auto loans, refinancing), deposits, debit and credit cards, domestic and international money transfers (Western Union, MoneyGram, KoronaPay), merchant acquiring (POS terminals, ePay), treasury and trade finance services, investment products, and insurance. Banking services are delivered through the Halyk SuperApp and Homebank online platforms, the Onlinebank business banking platform, and Kazakhstan's largest branch and ATM network.

Product overview

Halyk Bank operates as Kazakhstan's largest banking institution offering a comprehensive digital banking ecosystem with multiple interconnected platforms. The core offering consists of Halyk mobile app for retail customers and Onlinebank for business clients, supported by specialized products including Halyk Market B2C marketplace, OnlineDuken B2B procurement platform, and ePay online acquiring. Credit products encompass unsecured loans, mortgages (digital and 7-20-25 programs), and auto loans, while deposit products include Universal, Maximum, and QORJIN offerings. Premium tier services feature exclusive debit cards (Visa Signature, UnionPay Diamond, Mastercard World Elite, Visa Infinite Ultra). For merchants, Halyk provides POS terminals with fiscal cash registers, Halyk Restaurants management system, and various acquiring solutions. Business banking includes foreign trade financing (Structured Trade Finance, letters of credit), treasury products (derivatives, interbank operations, brokerage), custodian services, and SME tariff packages. Integration capabilities connect with 1C:Enterprise accounting software and Mercury X China import platform. The ecosystem extends through installment plans at partner retailers, money transfer services (Western Union, MoneyGram, KoronaPay), and specialized services like Halyk ID identity verification and voice biometrics for security.

Differentiator

Problem solved

Functional benefit

Brands

• Halyk: Mobile banking application
• Homebank
• Halyk Club
• Halyk Market
• OnlineDuken
• Halyk Invest
• Halyk FX
• Halyk Finance

Products and services

• Halyk Mobile App Primary mobile banking application for retail customers enabling payments, transfers, credit applications, deposits management, card services, and installment plans through a single digital interface.
• Onlinebank Internet banking platform for business clients providing account management, loans, acquiring services, foreign trade operations, treasury products, and payment acceptance for SMEs and corporate customers.
• Credit Products Range of lending solutions for individuals including unsecured loans up to KZT 8,000,000, mortgages (digital and 7-20-25 program), auto loans, and refinancing options.
• Deposit Products Savings and deposit products for individuals including Universal, Maximum, and QORJIN deposits, with online management capabilities via the Halyk mobile app.
• Card Products Debit and credit cards including Halyk Bonus Digital, Sinooil Digital, Halyk Easy, premium cards (Visa Signature, UnionPay Diamond, Mastercard World Elite), and credit cards (My!Card, Black Premium, Visa Infinite).
• Money Transfers Domestic and international transfer services including mobile number transfers, card-to-card transfers, Western Union Online, MoneyGram, KoronaPay, and Uzbekistan-specific transfers.
• Halyk Premium Banking Premium banking tier offering exclusive debit cards (Visa Signature, UnionPay Diamond, Mastercard World Elite, Visa Infinite Ultra, Mastercard World Elite Imperial), VIP services, wealth management, and concierge access for high-net-worth individuals.
• Installment Plans Buy-now-pay-later installment service with 0-0-24 installment options available at partner retailers including Technodom, Sulpak, Mechta.kz, Alser, and Evrika.
• ePay Online Acquiring Internet acquiring solution enabling online payment acceptance for merchants with fees starting from 0.9%, supporting Halyk QR, cards, and digital wallets.
• POS Terminal with Online Cash Register Combined POS terminal and fiscal cash register solution providing payment acceptance, fiscal receipt generation, and sales analytics in one device for merchants.
• OnlineDuken Digital B2B platform for convenience stores and pharmacies enabling goods purchasing from verified suppliers with deferred payment up to KZT 3 million and bonus programs.
• Structured Trade Finance Foreign trade financing solutions including short-term financing via interbank agreements, letters of credit with post-financing, and medium/long-term financing under Export Credit Agency coverage.
• Brokerage Services Securities market services for institutional investors in government securities, offered through Halyk Bank Treasury with individual account management.
• Custodian Services Securities market services since 1997 including nominal holding, accounting and storage of customer assets, and payment agent functions for securities transactions.
• Currency Derivatives (Forwards) Currency forward transactions enabling purchase and sale of currency at predetermined future dates, providing certainty in future financial flows and risk neutralization.
• Halyk Market Online B2C marketplace integrated with Halyk Homebank and Halyk Market apps, allowing merchants to promote and sell products to Halyk Bank customers with installment and credit payment options.
• Gold Investment Investment service allowing customers to invest in gold with metal accounts for wealth preservation.
• Halyk Invest Investment platform integrated into banking services for securities trading and wealth management.
• Halyk FX Currency exchange service providing individual exchange rates for business clients with 32 currency pairs available.
• Foreign Economic Activity Services Currency control, contract registration, SWIFT GPI tracking, company verification, and Halyk FX services supporting international trade operations.
• Halyk Payment System Proprietary payment system operator providing 24/7 routing, card database maintenance, acquiring network support, and international payment system integration.

Quantifiable outcome

• Digital transactions grew from 7% to 89% of all transactions in Kazakhstan (2014-2024)
• +1 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability6 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• Alatau City BankcoreStrategic or Co-development Partner · 22 June 2026Memorandum of cooperation signed with Alatau City Authority to support development of Alatau city as innovation and technology hub near Almaty. Cooperation covers AI, smart city technologies, IoT, fintech, digital assets, and high-tech industries including transport, logistics, tourism, education, and healthcare.
• VisacoreGTM or Marketing Partner · 6 March 2026She's Next women's entrepreneurship initiative - fifth wave launched in Kazakhstan. Program has engaged over 40,000 women from Kazakhstan and Central Asia since 2021. Seven winners selected for grants. Building on 14 previous winners who received total of 46.5 million tenge (US$94,477).
• ClickcoreStrategic or Co-development Partner · 29 July 2025Cross-border fintech deal: Halyk Bank to acquire 49% stake in Click (Uzbekistan's leading fintech platform) for USD 176.4 million, while Click shareholders acquire 49% stake in Halyk's subsidiary Tenge Bank for USD 60.76 million. Deal valued at USD 237 million total.
• Tenge BankcoreOthersHalyk Bank's subsidiary in Uzbekistan involved in cross-border payment services with Uzbekistan's national payment system HUMO, enabling cross-border card payments in Kazakhstan.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Bank CenterCredit: One of Kazakhstan's top tier-1 commercial banks offering retail, SME, and corporate banking. Competes head-to-head with Halyk across lending, deposits, and digital services in the domestic Kazakh market.
• Jusan Bank: Kazakhstani universal bank formed from First Heartland Jusan Bank, active in retail, SME, and corporate banking with digital initiatives. Competes directly for deposits and lending market share against Halyk.
• Kaspi.kz: Kazakhstan's largest super-app combining payments, marketplace, and fintech. Direct competitor to Halyk's digital banking and merchant ecosystem, targeting the same retail and SME customers with overlapping QR, installment, and marketplace offerings.
• ForteBank: Top-5 Kazakh commercial bank providing retail and business banking with a growing digital channel. Comparable in scale, customer segments, and product breadth to Halyk's domestic franchise.
• Eurasian Bank: Kazakhstani universal bank with comparable retail, SME, and corporate product sets, including digital and installment offerings. Operates in the same regulatory and competitive environment as Halyk Bank.

Regional players

• Bank of Georgia: Leading Georgian universal bank where Halyk has regional operations. Comparable in business model and product mix, but operates primarily in Georgia rather than Kazakhstan.
• TBC Bank: Major Georgian and Uzbek digital bank with strong retail and SME franchise. Comparable as a regional, digital-forward emerging-market bank; competes in overlapping Central Asian / Caucasus geographies.
• National Bank of Uzbekistan: State-owned Uzbek universal bank operating where Halyk's Tenge Bank subsidiary is active. Comparable as a regional player in the same cross-border trade and remittance corridors Halyk is pursuing.

Broad incumbents

• Sberbank: Russia's largest universal bank with a full-stack offering including payments, marketplace, and cloud. Comparable as a large incumbent regional bank expanding into fintech ecosystems, though operating across a vastly larger and different economy.

Emerging players

• Tinkoff (T-Bank): Russia's leading digital-native bank with a super-app model covering payments, lending, investments, and lifestyle. Comparable in digital-first approach and breadth of embedded financial services, though operating in a different regulatory regime.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key highlights7 records

Customer concentration

• Xx.com/halykbank_kz
• Facebookfacebook.com/halykbank
• LinkedInlinkedin.com/company/halyk-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Halyk Bank